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Whether you are a newbie or a veteran in e-commerce, you would end up in this situation at some point of time: buying products which do not sell well. Research has shown that on the average, around 20% of a seller’s inventory will become no-sells products, or what we call “deadstock”.

Essentially, the reason for this phenomenon occurring is usually two-fold, consisting of inventory purchases that were not based on sufficient market or product data; and inventory purchases that were driven by the wrong data.

Today, we will focus on how to avoid dead stocks from happening. To help you understand what it takes to avoid, or at least reduce the amount of dead stock in your inventory, consider the first point below.

1. Abandon Gut Feelings
This might seem like a no-brainer, but it surprises us that a lot of e-commerce sellers make purchasing decisions based on gut feelings – literally, if they feel like a product would sell well, then they purchase it (in bulk some more). Sad to say, the outcomes of those sourcing decisions made by gut feelings are typically much worse than those driven by data.

So here’s our advice: though it’s good to do things with a passionate attitude, it doesn’t mean charging ahead without careful considerations. Thus, the next time you base your sourcing decisions on gut feelings, think twice again, and maybe it will occur to you just how costly this type of decision-making can be.

Interested? Stay tuned to part 2 of our Tips to Avoid Dead Stock!

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